Strengthening Startup Ecosystems: Caravantures in Azerbaijan

The LEF Azerbaijan Network project supported the internationalisation of Finnish companies to Azerbaijan, a key EU trading partner in the South Caucasus region. Growing markets and strong demand, particularly in green technology and education expertise, offer significant opportunities.

The three-year project supported 15 Finnish partner companies in accessing the Azerbaijan market. The project was implemented in cooperation with the Latvian Chamber of Commerce and Industry (lead partner) and the Estonian Chamber of Commerce and Industry. Key activities included six trade missions to the target country, reciprocal visits to Finland, as well as company training, market analyses, and tailored company-specific consulting.

Caravantures is the world’s first global startup ecosystem diaspora. They operate as a strategic bridge, connecting high-potential talents and startups from emerging markets with the right ecosystems, capital, and mentorship to build the next global unicorns. Caravanture’s mission is built on a simple, powerful belief: No one should be stuck in the wrong place to build a world changing company.

Caravantures joined the LEF Azerbaijan Network with the objective of identifying and integrating Azerbaijani innovation into the global startup landscape. By leveraging Finnish and Nordic expertise in ecosystem building, they aimed to scout high potential teams, specifically within the gaming and tech industries, and provided them with a clear pathway to international markets.

The visit to Azerbaijan resulted in high-level engagement with key stakeholders, including SUP VC, PASHA Holding, SABAH.hub, and the Baku ID Team. Caravanture remains in active contact with these organizations, meeting regularly to identify the most effective solutions for the local ecosystem. While they continue to explore broad opportunities for cooperation, Caravantures is already moving forward on concrete projects with several of these partners to accelerate market integration.

A primary highlight of this engagement is their collaboration with Baku ID. Caravanture’s have successfully finalized a Memorandum of Understanding (MOU) to partner on their next flagship event. This collaboration ensures that Azerbaijani startups have direct visibility within their global diaspora network. Beyond these formal agreements, Caravantures has committed to supporting a wider range of local companies during the event, providing the dedicated mentorship and guidance necessary to help them compete on a global stage.

– Our journey with the LEF Azerbaijan Network confirmed that Baku is a goldmine of untapped talent. By finalizing our MOU with Baku ID and maintaining active dialogue with the country’s leading holdings, we are building a permanent bridge. Caravantures is here to ensure that Azerbaijani startups and the gaming industry have the mentorship and direct path they need to succeed on the global stage, summarises Pouya Mohammadi, the founding partner of Caravanture.

Moving forward, Caravantures aims to scale these partnerships by facilitating the relocation and growth of Azerbaijani startups through startup visa support and investment readiness programs. Their long-term vision is to transform Azerbaijan into a key node within the "New Silk Road" of innovation, where local talent can seamlessly access global capital and expertise.

As a concrete example of Caravanture’s impact, their partnership with the Baku ID Team serves as a blueprint for how Caravantures integrates into local hubs to accelerate traction. By bridging the gap between Baku’s energetic startup scene and the structured ecosystems of Finland and the Netherlands, they are creating a "Caravan" of success that benefits both founders and investors alike.

More information:
Pouya Mohammadi, Founding Partner